Financial Highlights

(in billion rupiah unless otherwise stated)

*) Restated

Description 2022 2021 2020* 2019* 2018*
Details
Revenues 15,302.87 12,224.13 16,190.46 31,387.39 48,788.95
Cost of Revenues (13,853.53) (10,325.64) (15,136.02) (28,095.02) (40,711.00)
Gross Profit (Loss) 1,449.34 1,898.49 1,054.43 3,292.37 8,077.95
Profit (Loss) Before Financial Charges, Equity in Net Income (Loss) of Associates and Joint Ventures 1,968.37 4,075.57 (3,498.73) 1,628.65 6,526.79
Profit (Loss) for the Year (1,672.73) (1,838.73) (9,287.79) (2,768.51) 3,068.46
Other Comprehensive Income (Expenses) for the Year (36.09) 120.58 26.05 (66.14) 305.54
Total Comprehensive Income (Loss) for the Year (1,708.82) (1,718.15) (9,261.74) (2,834.63) 3,373.99
Profit (Loss) Attributable to:
Owners of the Parent Entity (1,899.82) (1,096.21) (7,359.68) (2,121.48) 2,665.56
Non-Controlling Interest 227.08 (742.52) (1,928.11) (647.01) 402.90
Total Comprehensive Income (Loss) Attributable to:
Owners of the Parent Entity (1,935.91) (975.63) (7,333.63) (2,187.62) 2,971.10
Non-Controlling Interest 227.08 (742.52) (1,928.11) (647.01) 402.90
Earnings (Loss) per Share (in full Rupiah) (65.95) (41.66) (542.19) 69.11 291.95
ASSETS
Current Assets
Cash and Cash Equivalents 8,945.71 13,165.76 1,213.44 9,258.31 10,845.68
Short-term Investments 136.81 47.28 239.01 8.45 8.45
Accounts Receivables – Net 1,867.30 2,907.08 3,559.69 3,555.89 3,768.19
Retention Receivables – Net 1,463.75 1,647.92 1,226.54 1,783.13 1,333.87
Other Current Receivables – Net 7,166.65 6,660.03 6,870.64 8,399.16 8,767.95
Joint Ventures receivables 248.48 225.29 128.30 3,302.63 659.66
Inventories 4,283.46 4,355.13 3,823.73 4,470.85 4,697.91
Gross Amount Due from Customers 7,877.66 9,305.66 9,137.26 14,171.18 31,506.73
Financial Assets from Concession Project – Current Portion 25.00 6.20 4.05 13.13 13.13
Prepaid Taxes 584.03 1,671.73 1,033.90 2,639.19 2,744.22
Advances and Prepayments 831.39 1,181.77 1,518.72 1,435.96 1,408.02
Non-Current Assets Held for Sale - 1,414.77 - - -
Total Current Assets 33,430.24 42,588.61 28,755.28 49,037.84 65,715.99
Non-Current Assets
Investment in Associates and Joint Ventures 2,608.51 4,000.74 6,866.92 5,384.49 6,651.47
Non-Current Account Receivables - - - - -
Others Non-Current Receivables 1,937.59 67.24 69.70 109.15 76.86
Non-Current Gross Amount Due from Customers - - - - -
Investment Properties 317.54 317.54 310.15 310.15 126.28
Long-term Investments 869.74 868.52 780.24 446.76 347.82
Fixed Assets – Net 6,137.16 5,413.15 7,819.65 8,663.22 6,893.68
Right to Use Assets 39.63 68.83 127.62 - -
Goodwill 4,025.90 1,393.32 1,995.91 1,995.91 1,995.91
Intangible Assets Toll Road Concession Rights 47,516.60 48,143.91 53,871.28 55,378.83 40,233.23
Financial Assets from Concession Project 313.40 338.40 344.60 339.02 381.62
Deferred Tax Assets 14.69 37.41 520.77 1.54 1.56
Other Assets 1,021.31 363.96 343.35 922.34 485.45
Total Non-Current Assets 64,802.07 61,013.00 73,050.20 73,551.42 57,193.90
Total Assets 98,232.32 103,601.61 105,588.96 122,589.26 122,909.89
LIABILITIES
Current Liabilities
Accounts Payable 7,449.15 7,503.90 13.101,81 12,381.18 14,993.20
Short-term Bank Loans 814.05 4,210.23 24,870.59 22,162.36 27,959.25
Loan to Financial Institution Non-Bank - - - - 392.62
Short-term Gross Amount Due to Subcontractors 1,416.57 1,441.44 1,407.63 2,688.90 6,476.52
Accrued Expenses 1,037.95 2,919.37 1,563.82 720.63 706.78
Short-term Taxes Payables 3,390.07 2,537.83 1,106.64 1,381.84 2,007.55
Advances on Short-term Contract 796.26 594.66 699.90 364.29 287.68
Current Maturities of Long-term Bank Loans 278.50 315.28 1,220.25 833.00 416.50
Debt Purchases of Fixed Assets – Current Portion - - - 0.01 0.20
Short-term Medium Term Notes 250.00 - 300.00 733.00 812.20
Short-term Bonds Payable – Net 5,203.94 7,020.96 2,835.44 3,264.99 1,999.29
Other Short-term Liabilities 810.46 653.23 1,228.52 493.30 825.24
Current Maturities Long Term Lease Liabilities 5.95 4.66 30.38 - -
Total Current Liabilities 21,452.89 27,201.57 48,564.87 45,023.50 56,877.02
Non-Current Liabilities
Long-term Bank Loans 46,470.88 49,171.95 23,086.34 29,325.15 20,725.25
Long-term Joint Venture Payable 1,001.77 1,043.54 970.23 773.43 671.61
Long-term Loan to Financial Institution Non-Bank 4,538.85 2,360.44 2,901.64 1,846.59 161.79
Long-term Gross Amount 726.13 621.58 771.73 1,361.07 2,225.14
Advances on Long-term Contract 688.64 406.60 407.60 165.91 262.90
Deferred Tax Liabilities 6.10 5.67 7.29 28.64 54.36
Long-term Taxes Payable 395.99 851.40 725.30 193.16 805.41
Other Long-Term Payables 1,557.88 1,624.54 2,025.48 1,876.41 1,549.14
Long-term Lease Liabilities 32.46 60.86 60.76 - -
Long-term Medium Term Notes 475.00 250.00 - 300.00 300.00
Long-term Bond Payable – Net 5,455.45 4,476.59 9,728.16 12,422.42 11,849.36
Debt Purchases of Fixed Assets – Long-term Portion - - - - 0.01
Employee Benefit Liabilities 40.68 65.44 89.05 154.51 72.77
Sukuk Mudharabah 1,144.91 - - - -
Total Non-Current Liabilities 62,534.75 60,938.62 40,773.57 48,447.30 38,704.74
Total Liabilities 83,987.63 88,140.18 89,011.41 93,470.79 95,581.76
EQUITY
Share Capital 2,880.68 2,631.59 1,357.40 1,357.39 1,357.39
Additional Paid-in Capital 13,565.91 12,495.84 5,849.53 5,552.03 5,552.03
Retained Earnings
Appropriated 1,725.60 1,732.19 1,732.10 1,672.39 1,583.50
Unappropriated (9,940.24) (7,693.33) (6,525.52) 8,561.02 7,451.36
Component of Equity 867.40 903.49 782.90 739.58 761.76
Total Equity Attributable to:
Owners of Parent 9,099.35 10,069.77 3,196.41 17,882.41 16,706.03
Non-Controlling Interest 5,145.34 5,391.66 8,232.70 11,236.06 10,622.10
Total Equity 14,244.68 15,461.43 11,429.11 29,118.47 27,328.13
Total Liabilities and Equity 98,232.32 103,601.61 100,767.65 122,589.26 122,909.89
Description 2022 2021 2020 2019 2018
Details
CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash flows (used in) from Operating Activities (106.58) 192.78 411.06 9,014.25 4,011.54
Cash Flows from Investing Activities (2,204.28) (1,542.25) (1,056.08) (14,924.74) (18,768.15)
Cash Flows from Financing Activities (2,486.90) 13,334.21 (7,407.07) 4,334.94 19,691.08
Net Increase (Decrease) in Cash and Cash Equivalents (4,797.76) 11,984.75 (8,052.09) (1,575.55) 4,934.47
Profit (Loss) in Cash and Foreign Exchange Rate 3.06 (8.64) 17.24 (11.82) 11.11
Effect of Divestment 574.65 (23.79) (10.03) - (188.87)
Cash and Cash Equivalents at the Beginning of the Year 13,165.76 1,213.44 9,258.31 10,845.68 6,088.96
Cash and Cash Equivalents at the End of Year 8,945.71 13,165.76 1,213.44 9,258.31 10,845.68
Description 2022 2021 2020* 2019* 2018*
Details
FINANCIAL RATIOS (IN %)
Return on Assets (0.15) (0.70) (9.22) 0.84 3.71
Return on Equity (15.11) (14.21) (81.26) 9.21 15.99
Net Profit Margin (10.93) (15.03) (57.37) 3.28 9.47
Current Ratio 1.56 1.56 0.32 1.09 1.18
Debt to Assets Ratio 0.86 0.85 0.88 0.76 0.77
Debt to Equity Ratio 5.90 5.70 7.82 3.21 3.31
Description 2022 2021 2020 2019 2018
Details
OPERATING HIGHLIGHTS
Total Tenders Won (in billion rupiah) 15,513.73 15,304.28 21,461.12 15,884.88 12,200.29
Percentage of Tenders Won (in %) 31.22 42.17 54.59 52.53 28.08
Total New Contracts (in billion rupiah) 20,233.43 20,493.56 27,003 26,081 27,216